Real Estate in Chicago Far More Accessible Than in Other Global Cities

A report in last week’s Chicago Tribune noted that Chicago has moved up two slots in a list of global rankings—now listed at #6, Chicago falls just behind New York, London, Tokyo, Paris and Hong Kong. The rankings show how much influence a city has beyond the city itself.

But one of these things is not like the other. Chicago, and especially real estate in Chicago, is more accessible at a fraction of the price of other high-ranking cities. It is much easier to find and purchase the best Chicago real estate, even in the city’s most prestigious buildings. Depending on the floor and location of a unit, buyers can get into some of the most anticipated Chicago new construction buildings with the most promising concierge services for $750 to $1200 per square foot.

The Ritz-Carlton Residences, downtown Chicago

A rendering of the Ritz-Carlton Residences on Michigan Avenue. From theresidenceschicago.com

If you’re looking to be in the heart of urban luxury living in downtown Chicago, the definitive address will be the Ritz-Carlton Residences, which has just come out of the ground. These Chicago condos are scheduled to begin delivery in mid-2011, offering the ultimate privacy in a boutique building. Ritz-Carlton-trained staff will operate and manage the building, guaranteeing the delivery of 5-star service around the clock. Each home has its own personal wine cabinet, Smart Home Technology, and available customizations with finishes and appointments to fit each buyer’s taste. One thing to note–not all properties in the Ritz-Carton Residences are listed, so contact Sheldon to learn what is available in this building.

River North neighborhood Chicago real estate

Trump Tower is a premier luxury option for living in downtwon Chicago. (Image from flickr/Marit & Toomas Hinnossar

Another option for downtown Chicago real estate is Trump Tower. The Trump name puts this building at the top of those with panache and service. The full kitchen in each residence includes Miele, Wolf and Sub-Zero appliances, with bathrooms finished with marble or limestone and Kohler fixtures. The building’s services strive to create a convenience for its residents that they don’t have to leave—including in-house dry cleaning and laundry valet, 24-hour room service, a world-class spa and health club, in-home dining and catering and more.

lincoln park 2520 chicago real estate

A rendering of the upcoming 2520 Lincoln Park building.

To put yourself close to downtown but with a neighborhood environment, 2520 Lincoln Park puts families, professionals and empty nesters alike near all the activities the famed Lincoln Park has to offer. The building is one of the last projects from Chicago’s renowned (and retiring) architect Lucien Lagrange, who has made his mark with luxury buildings like Park Tower, the Elysian and the Ritz-Carlton Residences. 2520 Lincoln Park is steps from Lincoln Park itself and Diversey Harbor—perfect for boat owners. If you’re a golfer, the driving range is right at Diversey Harbor as well. As with the Ritz-Carlton Residences, not all properties for 2520 Lincoln Park are listed, so contact Sheldon to find out what’s truly available.

Chicago real estate in buildings like Trump, the Ritz-Carlton and 2520 Lincoln Park will continue to deliver on quality and service for a long time to come, thus retaining their value among Chicago luxury condos. With the top services and amenities and cutting-edge architecture, these are buildings that are branded by their name alone and will actually increase in value in years to come.

As I’ve said before, remember that when buying new construction, you need an agent to represent your interests, especially when working with a building’s sales center. To learn how you can make a great investment in Chicago real estate, contact agent Sheldon Salnick at (312) 498-5080 or by email at ssalnick@dreamtown.com.

Leave a Reply

Your email address will not be published. Required fields are marked *